Masdar, Abu Dhabi’s renewable energy initiative, plans to launch a new clean-technology fund this year with capital of at least $250m as it seeks out investment opportunities created by the global economic turmoil.

Sultan al-Jaber, Masdar’s chief executive, told the FT that its existing $250m venture capital fund launched in late 2006 with Credit Suisse, Consensus Business Group and Siemens has already fully deployed its cash.